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The metal resources (METRO) model: A dynamic partial equilibrium model for metal markets applied to rare earth elements

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  • Pothen, Frank

Abstract

This paper presents the METal ResOurces (METRO) model, a partial equilibrium model tailored for metal markets. It allows for a disaggregated representation of the mining sector and endogenous investment in extractive capacities. It can be calibrated to a large number of metal markets. Rare Earth Elements are the first group of metals for which the model is implemented. A new dataset on Rare Earth mines is compiled to calibrate it. First results on key developments of Rare Earth markets are presented. Extensive sensitivity analyses indicate their robustness. --

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Bibliographic Info

Paper provided by ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research in its series ZEW Discussion Papers with number 13-112.

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Date of creation: 2013
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Handle: RePEc:zbw:zewdip:13112

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Keywords: Partial Equilibrium Model; Metals; Rare Earths; Exhaustible Resources;

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  1. Fisher, L. A. & Owen, A. D., 1981. "An economic model of the US aluminium market," Resources Policy, Elsevier, Elsevier, vol. 7(3), pages 150-160, September.
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  9. Wübbeke, Jost, 2013. "Rare earth elements in China: Policies and narratives of reinventing an industry," Resources Policy, Elsevier, Elsevier, vol. 38(3), pages 384-394.
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  12. Robert Cairns, 2001. "Capacity Choice and the Theory of the Mine," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 18(1), pages 129-148, January.
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Cited by:
  1. Pothen, Frank, 2014. "Dynamic market power in an exhaustible resource industry: The case of rare earth elements," ZEW Discussion Papers 14-005, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.

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